Within the framework of multi-stage mixed-integer linear stochastic programmingwe develop a short-term production plan for a price-taking hydropower plant op-erating under uncertainty. Current production must comply with the day-aheadcommitments of the previous day which makes short-term production planning amatter of spatial distribution among the reservoirs of the plant. Day-ahead marketprices and reservoir inflows are, however, uncertain beyond the current operationday and water must be allocated among the reservoirs in order to strike a balancebetween current profits and expected future profits. A demonstration is presentedwith data from a Norwegian hydropower producer and the Nordic power market atNord Pool.Keywords: OR in energy; hydropower; stochastic programming; scenarios